COMAC renews call for full deregulation of fuel prices in Ghana
The Chamber of Oil Marketing Companies (COMAC) has renewed its call for the full deregulation of fuel prices in Ghana.
In Brief
- •The Chamber of Oil Marketing Companies (COMAC) has renewed its call for the full deregulation of fuel prices in Ghana.
- •COMAC argues that government intervention in fuel pricing is affecting the operations of private businesses in the downstream petroleum sector.
- •CEO of COMAC, Dr Riverson Oppong, has questioned the continued government subsidies on diesel and the entry of new players into the oil marketing sector.
- •COMAC has also called for the suspension of certain sections of the Customs Act to address governance issues in the fuel sector.
Why It Matters
The call for full deregulation of fuel prices by COMAC is significant as it highlights the ongoing challenges faced by private businesses in the downstream petroleum sector. Government intervention in fuel pricing can lead to increased operational costs and reduced competitiveness. Additionally, the entry of new players into an already crowded market can lead to market distortions and unfair competition. The suspension of certain sections of the Customs Act is also crucial as it can help address governance issues and ensure a fair and transparent market.
Key Details
- Number of Oil Marketing Companies (OMCs)
- 245
- Fuel Consumption in First Half of 2026
- 4.06 billion litres
- Increase in Fuel Consumption in First Half of 2026
- 12.24%
Context & Background
The Ghanaian government has been subsidizing diesel prices to cushion consumers from the impact of higher international petroleum costs. The downstream petroleum sector in Ghana is characterized by a high number of oil marketing companies competing for market share.
Original Reporting & Sources
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